Key takeaways:
- Ether price dropped 8% to $3,940 on Tuesday, triggering $115 million in long ETH liquidations.
- A bull flag on the weekly chart suggests a $10,000 target, but bulls must hold $3,800 first.
Ether (ETH) was down on Tuesday, dropping more than 8% from Monday’s highs above $4,300 to trade at $3,940. Despite this correction, traders remain optimistic that the ETH price will rise higher as long as key support levels hold.
Ether wipes out $115 million in long ETH positions
Ether’s bearish performance today was accompanied by significant liquidations across the crypto market.
According to data from CoinGlass, more than $650 million leveraged crypto positions have been liquidated over the last 24 hours, with $455 million representing long liquidations.
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Source cointelegraph.com
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